The post Gold price in United Arab Emirates: Rates on May 1 appeared on BitcoinEthereumNews.com.

Gold prices fell in United Arab Emirates on Thursday, according to data compiled by FXStreet. The price for Gold stood at 381.26 United Arab Emirates Dirhams (AED) per gram, down compared with the AED 388.42 it cost on Wednesday. The price for Gold decreased to AED 4,447.11 per tola from AED 4,530.40 per tola a day earlier. Unit measure Gold Price in AED 1 Gram 381.26 10 Grams 3,812.74 Tola 4,447.11 Troy Ounce 11,858.61   Daily Digest Market Movers: Gold price is pressured by receding safe-haven demand and a modest USD uptick US President Donald Trump said earlier this Thursday there is a “very good probability we’ll reach a deal with China” and added that we have “potential” trade deals with India, South Korea and Japan. The comments add to the recent optimism and further boost investors’ confidence. The US Dollar ticks higher in reaction to Trump’s remarks and drags the safe-haven Gold price lower for the third consecutive day on Thursday. A breakdown below the $3,265-$3,260 pivotal support prompts technical selling and further contributes to the intraday decline to a two-week low. Automatic Data Processing (ADP) reported on Wednesday that private sector employment rose by 62K in April. This marked a notable decline from the 147K increase (revised from 155K) recorded in March and also missed the market expectation for a reading of 108,000 by a wide margin. Adding to this, the advance estimates by the Bureau of Economic Analysis, the US economy contracted at an annualized rate of 0.3% during the first quarter of 2025 after growing at a solid pace of 2.4% in the previous quarter. The data, in turn, revives concerns about a looming US recession. Meanwhile, the US Personal Consumption Expenditures (PCE) Price Index eased to the 2.3% YoY rate in March from 2.5% previous.…

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Filed under: News - @ May 1, 2025 5:25 am